The Department of Trade and Industry (DTI) expressed hope on Monday that the Philippines could complete the process of approving the Regional Comprehensive Economic Partnership Agreement within the administration of President Rodrigo Duterte.

In a virtual forum, Assistant Trade Secretary for International Trade Policy Allan Gepty said once Duterte ratifies RCEP, it will be forwarded to the Senate for concurrence of at least two-thirds of its members.

"As much as possible, we want to immediately complete the process so that within the term of the President, we can finish all," he said.

Once the process is completed in the Philippines, Gepty hoped the Philippines can immediately deposit the "instrument of approval so that when the RCEP becomes effective, at least we can already benefit from whatever this agreement can offer."

Joseph Purugganan of the Focus on the Global South-Philippines, in the same forum, said they expect the Senate to approve the agreement.

However, he said when the Senate deliberates on the agreement, they would debate with DTI on RCEP's supposed benefits and the issue of cost.

"I think, in our experience with JPEPA (Japan-Philippine Economic Partnership Agreement), we would like to think that civil society won the debate against JPEPA but lost the concurrence and that's the reality that we face," he said.

"I think the Senate will vote (for RCEP), no question. But what we're hoping is that we will raise enough concerns so that the Senate may be have the side notes or side comments in order to further monitor its implementation," Purruganan added.

Meanwhile, asked on the possible effect of RCEP agreement on the JPEPA, Gepty said, "It is complimentary."

He explained that those not being offered in JPEPA could be complimented by RCEP and those not being offered in RCEP is being offered in JPEPA.

"So from the perspective of one stakeholder, if before when it comes to sourcing of raw materials he's using only JPEPA, for example, he's just looking for Japan and the Philippines for the rules of origin under JPEPA. But now that the Philippines is also included in the RCEP, we're not just looking into two countries," he explained.

The 10 ASEAN member countries, namely Brunei, Cambodia, Indonesia, Laos, Malaysia, Myanmar, Philippines, Singapore, Thailand, and Vietnam, Australia, China, Japan, South Korea, and New Zealand approved the RCEP agreement on November 15. India, which was originally part of the negotiation backed out.

While the RCEP agreement is open for accession by any state or separate customs territory 18 months after its entry into force, however, it is open for accession by India, as an original negotiating State, from the date of its entry into force, without waiting for 18 months.

For the agreement to come into effect, at least six ASEAN and three non-ASEAN signatory states have to deposit their instruments of ratification, acceptance or approval to the designated depositary.

The participating countries account for about 30 percent of the global gross domestic product and 30 percent of the world population. Celerina Monte/DMS